That would not happen.
First off, if Bitcoin is worth a million dollars, the dollar already did something wrong.
Second, Bitcoin does not have the ability to "replace" the current economy. It is simply an alternative, all the currencies will need to work together to wipe out paper money, and get the world back to gold, and the new credit/token/coin currencies.
Third, Sure Bitcoin could hurt the economy, as long as people like me don't suggest alternatives. My suggestion is, when you have an excess in another coin or dollars, or euros... But Coins for more than they are worth, simply to help the economy thrive. I believe if rich people did the same thing (bought euros with their American dollars, then bought American dollars for 1.25% their value) the economy would correct itself. But people are just too greedy, my hope is that we can inform enough miners to make that not the case with crypto currency.
True, you could make mike coins and one day people could stop using them. BUT, if you invent something, or create a business and make Mikecoins the main currency used to buy the item, or within the business (like dave and busters) you can guive your coins a real world value and they will never be worthless.
And I know wealth is not made from thin air, and that is not what I am suggesting. I suggest SHARING wealth once it is got, and inventing new things and starting new organizations.
First off, if Bitcoin is worth a million dollars, the dollar already did something wrong.
Second, Bitcoin does not have the ability to "replace" the current economy. It is simply an alternative, all the currencies will need to work together to wipe out paper money, and get the world back to gold, and the new credit/token/coin currencies.
Third, Sure Bitcoin could hurt the economy, as long as people like me don't suggest alternatives. My suggestion is, when you have an excess in another coin or dollars, or euros... But Coins for more than they are worth, simply to help the economy thrive. I believe if rich people did the same thing (bought euros with their American dollars, then bought American dollars for 1.25% their value) the economy would correct itself. But people are just too greedy, my hope is that we can inform enough miners to make that not the case with crypto currency.
True, you could make mike coins and one day people could stop using them. BUT, if you invent something, or create a business and make Mikecoins the main currency used to buy the item, or within the business (like dave and busters) you can guive your coins a real world value and they will never be worthless.
And I know wealth is not made from thin air, and that is not what I am suggesting. I suggest SHARING wealth once it is got, and inventing new things and starting new organizations.
I'm saying, people would never start using them; nobody would bother. Nobody wants to use a million different coins to buy a million different things. For example, if Google invented Googlecoins, and Amazon invented Amazoncoins (not the stuff they already got, mind you,) people would cry, "But we already have Bitcoin! I don't want to use Googlecoins!" It would be like McDonalds only accepting Happycoins, or WalMart only accepted Walcoins; it's bad for business, and makes it annoying for the consumer to keep track of it. Also, by assigning your Googlecoins a value of 10 Bitcoins a pop, you're artificially setting the price; this doesn't happen in the real world. People have to figure out what a currency is worth by themselves by agreeing on it. It would be like saying my Laptop isn't really worth $200, it's actually worth $2000, except no one would purchase at $200 laptop at $2000, unless they were getting shafted.
In relation to your last statement: If wealth is not created from thin air, you cannot share what wealth you didn't create from thin air. That's essentially what this is boiling down to; it's an attempt to generate wealth by doing nothing. In the end, it's going to do little more than secure the various crypto-coin networks, without making the person money. If I sold you a mining rig for 10k Shagcoins, and you used it to produce 100k Mikecoins, all of which are worth 10k Shagcoins (if you're lucky), then we're going nowhere. As I said before, in a system like this, it's better to either lose the concept of crypto-currency all together, or stick with a system in which people work; there is no real in-between here. If people are already living off machine labor, and all their necessities are being met, then they have no real reason to trade to live. They might trade for entertainment and such, but, I predict that even this will disappear. Really, there's nothing left to fight for, once everyone's perfectly healthy and happy; you just do what you wanna do, like go biking, or write a book. The question is then irrelevant to this thread; how to make it all happen to ensure people are actually free.
As myrkul said, I'm not trying to rain on your idea, but, let's get to the root of the matter. Have you seen Zeitgeist?
